UK investment fund Insight Investment with global assets of GBP 271.9bn has purchased Agricola Borcea – a Romanian farm that operates 13,600ha of arable land in the Calarasi county, close to the Danube, Ziarul Financiar daily reported.

Prior to the deal, Agricola Borcea was owned by Cyprus-registered Alisa Farming Enterprises, managed by US resident Richard Randag [formerly in the board of local vegetable oil producer Expur].

The assets of the farm – including the land, irrigation installations and farming equipment, are estimated by the daily at EUR 30mn. Nonetheless, out of the 13,600ha operated by Agricola Borcea, only 3,000ha are owned by it. The remaining is leased – of which 6,054ha from the state for a period of 49 years. The rent paid by Agricola Borcea to the state for the land is roughly half of the rent paid on the free market, the daily comments. The lease contract was signed in 2002.

UkrAgroConsult